Investment enables leading software platform for fair and responsible lending to fuel product innovation and accelerate growth as standalone company
RiskExec, Inc., a leading fair lending compliance reporting and analytics platform that helps lenders meet evolving regulatory requirements, announced a strategic growth investment from Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. The investment establishes RiskExec – previously a subsidiary of Asurity Technologies, LLC– as a standalone company. Financial terms of the transaction were not disclosed.
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RiskExec’s software solutions empower banks, mortgage lenders, credit unions and nontraditional lenders to proactively manage regulatory compliance, equipping them with the analytical framework and knowledge to increase visibility and enhance oversight while minimizing delays and unforeseen costs. The secure and easy-to-use platform provides financial institutions with tools to collect, clean, analyze, submit and track data required under various regulatory frameworks, including the Community Reinvestment Act (“CRA”), Home Mortgage Disclosure Act (“HMDA”) and Small Business Lending – section 1071 of the Dodd-Frank Act (“SBL/1071”), among others.
RiskExec will continue to be led by Luke Wimer as Chief Executive Officer with Founder Dr. Anurag Agarwal as President and leader of the Company’s technology strategy. Andy Sandler, Chairman and CEO of Asurity and Founder of Asurity’s lead investor, Temerity Capital Partners (“Temerity”), which will remain an investor in RiskExec, will serve as Chairman of RiskExec’s Board of Directors.
“When RiskExec partnered with Temerity in 2015, we made a commitment to becoming the highest quality fair lending and CRA reporting and analytics platform available to the financial services industry, enabling our clients to reduce risk and navigate the regulatory environment with ease,” said Dr. Agarwal. “Our dedication to those values remains unwavering as we embark on this exciting new chapter with the added expertise and support of Vista, and I look forward to continuing to work alongside Luke and our talented team to further enhance product innovation and deliver even more value for our customers.”
Trusted and relied upon by financial institutions for its advanced capabilities and expertise, RiskExec experienced record-breaking growth in 2024. RiskExec currently supports more than 30% of the top 50 banking and mortgage companies in the United States, along with credit unions, small-to-mid-sized banks, fintechs and other lending providers.
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“I am honored to lead RiskExec and would like to thank Andy and the entire Temerity organization for their support over the years,” said Mr. Wimer. “Our customers should expect the same industry-leading software solutions and unparalleled support they rely on, with additional resources through our partnership with Vista that will enable us to further expand and improve our product offerings.”
Vista’s investment in RiskExec was made by the firm’s Endeavor Fund, which provides growth capital and strategic support to market-leading, high-growth enterprise software, data and technology-enabled companies that have achieved at least $10 million in recurring revenue.
“RiskExec’s impressive product-driven growth and attractive financial profile make it a natural fit for Vista’s Endeavor strategy, which specializes in scaling emerging category leaders to build enduring market value,” said René Stewart, Co-Head of Vista’s Endeavor Fund and Senior Managing Director. “We are excited to welcome Luke, Anurag and the entire RiskExec team to the Vista ecosystem.”
“There is an ever-increasing need for lenders to mitigate risk in today’s highly demanding regulatory environment, and RiskExec’s software simplifies that complex process through a multi-faceted and intuitive interface,” said Ben Benson, Managing Director at Vista Equity Partners. “Underpinned by a mission-critical platform and strong customer retention, RiskExec is well-positioned for continued growth.”
“Temerity’s continued investment and engagement with RiskExec reflects not only our belief in its leadership, technology and value delivered to customers, but also our confidence in its future growth empowered by Vista,” said Mr. Sandler. “Further, I’m pleased to share that Asurity will continue to support RiskExec customers with its advisory and training services, ensuring that our valued financial services clients will continue to benefit from insights derived from both RiskExec’s world-class software and Asurity’s world-class experts.”
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Source – PR Newswire
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